Ping Identity Prices Secondary Equity Offering By Vista Equity Partners At 3% Discount

August 16, 2021 10:56 AM | 1 min read

The Intelligent Identity solution provider Ping Identity Holding Corp's PING selling shareholders Vista Equity Partners priced 6 million shares at $23.85 per share in a secondary public offering.
The estimated offering proceeds are $143.1 million. The offer price implies a 2.7% discount to Ping Identity's Friday closing price of $24.50.
The underwriters have a 30-day option to purchase additional shares up to 0.9 million shares. Ping Identity will not receive any of the proceeds from the offering.
The stock has lost 14.5% year-to-date.
Price Action: PING shares traded lower by 4.65% at $23.37 on the last check Monday.

Posted In: News Offerings Small Cap Tech Briefs

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.